American Airlines Group Inc., formed today when AMR Corp. and US Airways Group Inc. combined, is poised to rise on confidence that the world’s largest carrier can avoid the pitfalls that dragged down other mergers.
Virgin America Inc., the low-fare airline partly owned by Richard Branson, will trim capacity by 3 percent in the first quarter and is offering voluntary short- term leave to employees to cut costs, citing a weaker outlook.
US Airways Group Inc. rose to the highest close since federal antitrust regulators sued to block the planned merger with AMR Corp.’s American Airlines, a sign of investor optimism that the deal will occur.
Doug Parker was snubbed three times as a merger partner in deal-making that produced the world’s biggest airlines. Taking over AMR Corp. may be his last chance to break into the top tier of U.S. carriers.
United Continental Holdings Inc. plans to cut 1,300 jobs and some service at Houston’s main airport after the city backed Southwest Airlines Co.’s bid to start international flights from a secondary facility.